In a recent episode of EPPF's Caring Beyond Tomorrow podcast, Seema Ramnarain, spoke with Ayanda Gaqa, Executive: Governance and Assurance, about the importance of retirement savings and how EPPF is adapting to change.

Why Retirement Savings Matter

“We know we will all retire one day, which is why saving is so important,” Ayanda explained. “It prepares us for the years when we are no longer earning an income.”

Defined Benefit vs Defined Contribution

• Defined Benefit (DB) funds, such as EPPF, promise a pension outcome based on years of service and salary, with the employer carrying the risk.
• Defined Contribution (DC) funds depend on contributions and investment performance, meaning the member carries the risk.

This makes a defined benefit fund more predictable for members.

Trends Shaping Retirement

Ayanda highlighted key changes influencing retirement today:

• The new Two-Pot Retirement System
• Economic uncertainty, interest rates and inflation
• Longer life expectancy, requiring more years of savings
• Technology, which improves efficiency and services

EPPF is responding by investing sustainably, educating members and using technology to remain resilient and relevant.

What Members Can Do

Members are encouraged to:

• Prioritise retirement planning and saving
• Set goals and track progress
• Stay informed through EPPF sessions
• Use the Member Portal and mobile app
• Keep beneficiary details updated

Keeping your nomination form current is especially important. If you pass away in service, trustees must follow Section 37C of the Pension Funds Act, which requires them to allocate benefits to your dependants. Without an updated form, the process can take longer, delaying support for your loved ones.

Listen to the Podcast below: 

Final Thoughts

“Retirement funding is evolving, but EPPF is well-positioned for the future,” Ayanda said. “Our commitment to members remains unwavering, as it has been for 75 years. The key is for members to stay engaged and take small but important actions.”